Five Dinar Gold Coin Shows ISIS Has No Interest in Polar Ice Caps




ISIS gold coins
From Left to right : One-Diner and Five-Dinar Gold Coins
Photo Credit: Cryptocurrency News

In response to my article How To Legally Donate Money to ISIS, reader Gary Rumain wrote: "Hi, Bernie, since you were once a gold merchant, I thought I would ask you if you could take a look at this post from my blog and leave an opinion there about my idea."

Here is a snippet from Gary's blog:

Pislamonausea Central, pislamic State flips gold coins to break Fed `enslavement’

Forget the printing press. In readying for the rollout of pislamic State’s new money, goldsmiths and silver smelters have been toiling away.

The jihadist group on Saturday touted “the return of the gold dinar” in an hour-long video issued by its media wing, al Hayat. pislamic State’s policy-making Shura Council last year tasked its Beit al Mal, or treasury, with minting the coins, which come in several denominations made of gold, silver and copper.

...

In the video, pislamic State refers to caliph Abd al Malik ibn Marwan, who introduced the first arabpig-script coinage of the pislamic empire, free of figural representation, in around 696 AD.

The group said its 21-carat 1-dinar coin weighs 4.25 grams, while the 21-carat five-dinar coin weighs double that.


Seizing on the discrepancy in the weights of the two coins, in his comment section Gary mused the following and asked me for my opinion:

Did you notice their stupidity in the very last paragraph? They say that a one dinar coin is 4.25 grams while the 5 dinar one is double that. So you get two 1 dinar coins and melt them down (should be very easy with 21 carats) and recast them as a 5 dinar coin. Then you go to a bank and get it changed for 5 one dinar coins and repeat. ;-)

Plus you could change it to 18 carats and they probably wouldn't even notice. They would be screwed within months if a lot of people did that (and they have in the past but it's much easier to do now with modern tech).

...

I invited Bernie from Panck's Constant to come over and have a look. He used to work in the gold business. I'm sure this will bemuse him.


So here's my take on it. A number of news sites also mentioned that the five-dinar gold coin would weigh twice as much as the one-dinar gold-coin. They are mistaken. The 5 is twice as thick, not twice as heavy. The 5 dinar is in fact 5 times heavier.

Here are the specs for the one-dinar gold:

Weight: 4.25 grams.
Diameter: 19 mm.
Thickness: 1.15 mm.
Alloy: 87.5% gold 12.5% Copper (supposedly 21kt).

symbol: 7 ears of wheat.

Purpose of symbol - from Qu`ran 2:261: Allah said: The example of those who spend their wealth in the way of Allah is like a seed [of grain] which grows seven spikes; in each spike is a hundred grains. And Allah multiplies [His reward] for whom He wills. And Allah is all-Encompassing and Knowing.


Here are the specs for the five-dinar gold:

Weight: 21.25 grams.
Diameter: 29 mm
Thickness: 2.30 mm.
Alloy: 87.5% gold 12.5% Copper (supposedly 21kt)

symbol: World map

Purpose of symbol - From the words of the Prophet: Allah showed me the world in the shape of a corner. And I saw the whole world from the East and to the West and realized that someday this land will belong to my people.


The five-dinar is indeed 5 times heavier than the one-dinar coin.

By the way, the only parts of the globe missing from ISIS' map of world conquest are the polar ice caps. Tents do not rest well on ice floes.

What bothers me is that the coins are too large in volume for them to be 21 kt gold. The specific gravity for 21 kt gold is about 16.7 gm/cc, these two coins have a specific gravity a little less than 14 grams per cubic centimeter which is accurate for 16kt gold. I haven't held the coins in my hands (it's probably illegal for me to do so) and so I don't know if the rims extend a tenth or a fifth of a millimeter above the face which could lessen the volume by 3 to 6%. But still the specs just don't make sense to me.

It could very well be that ISIS is pulling a huge con on the public and actually giving them only 16kt-18kt in gold in order to gain seigniorage.




Trivia:


  • As I write this, Gold is trading at $1120 per ounce. If the gold dinars are truly 21 kt then the current value of the 1 and 5 Dinar coins is $153 and $765 respectively. That means an average tank load of oil (13750 gallons) should sell for about $5250 (ISIS sells oil at a 50% discount to the market price) or 6.8 5-Dinar gold coins.
  • Nine-coin knock-off sets of these coins in base-metals can be purchased on ebay for about 40 bucks.
  • Regarding the gold content: if ISIS were truly committed to being in compliance with the hadiths of the Holy Prophet they would have made their dinar 24 qirats of pure gold weighing 4.5 grams. However, it was the Roman solidus that was circulating for decades in Arabia during Mohammed's time that had a weight of about 4.25 grams.
  • Karat is the North American spelling for carat. In America carat is used for weighing gemstones and pearls (one carat = 0.2 gram). Although karat and carat can both be used for gold purity, carat can only be used for weighing gemstones and pearls.



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